Section OK 24 — Income Tax Act 2007: Income tax paid satisfying liability for further income tax

OK 24 Income tax paid satisfying liability for further income tax Election (1) A Maori authority that is liable for further income tax may choose to satisfy the liability through a payment of income tax. Requirements (2) The liability referred to in subsection (1) must be for an income year corresponding to a tax year in which the Maori authority maintains a Maori authority credit account. When treated as paid (3) The further income tax is treated as paid on the day the income tax is paid to the Commissioner. Defined in this Act: Commissioner , further income tax , income tax , income year , Maori authority , Maori authority credit account , pay , tax year , Compare: 2004 No 35 s MK 8(5B)